LONDON, UK: Enefit Green AS, 100% subsidiary of Eesti Energia AS, published an initial public offering, listing and admission to trading prospectus and announced the offering of shares that will last until October 14, 2021.

The results of the offering and the distribution of shares are planned to be announced on or about October 15, 2021.

Trading in Enefit Green’s shares is expected to begin on the Baltic Main List of Nasdaq Tallinn on or about 21 October 2021.

The base size of the offering is up to EUR 115 million, consisting of an issue of up to EUR 100 million by Enefit Green AS and sale of up to EUR 15 million by Eesti Energia AS. The size of the secondary shares to be sold in the offering may be upsized by up to EUR 60 million. In such case, the total deal size may equal up to EUR 175 million, corresponding up to 26.4% of all the shares in Enefit Green.

With the IPO, Enefit Green targets to raise approximately 100 million euros for the purposes of financing its development projects and potential new projects. In particular, Enefit Green plans to use the net proceeds of the IPO for the purposes of developing the wind and solar parks in its near-term pipeline of up to 600 MW.

Eesti Energia AS is a public limited energy company in Estonia with its headquarters in Tallinn. It is the world’s biggest oil shale to energy company. The company was founded in 1939. As of 2014, it operates in Estonia, Latvia, Lithuania, Finland, Jordan and Utah, United States. www.energia.ee